Global Feed Taste Enhancers Market Growth Analysis 2024 – Forecast Market Size And Key Factors Driving Growth

Overview and Scope

Feed taste enhancer is a type of additive that is added to animal feed to improve its taste and palatability. Feed taste enhancers are added to animal feed to increase the animal’s appetite and lead to better growth and health.

Sizing and Forecast

The feed taste enhancers market size has grown rapidly in recent years. It will grow from $2.84 billion in 2023 to $3.13 billion in 2024 at a compound annual growth rate (CAGR) of 10.2%. The growth in the historic period can be attributed to environmental factors, consumer demand for quality animal product, feed manufacturing processes, species-specific formulations, feed conversion ratio..

The feed taste enhancers market size is expected to see strong growth in the next few years. It will grow to $4.58 billion in 2028 at a compound annual growth rate (CAGR) of 10.0%. The growth in the forecast period can be attributed to research and development investments, growth in aquaculture and pet food industry, focus on feed efficiency, shift in consumer preferences, demand for functional feed additives.. Major trends in the forecast period include natural and organic solutions, focus on palatability solutions, microencapsulation technology, personalized feed solutions, research in animal behavior and preferences..

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Segmentation & Regional Insights

The feed taste enhancers market covered in this report is segmented –

1) By Type: Flavors, Sweeteners, Aroma Enhancers
2) By Source: Natural, Synthetic
3) By Application: Poultry, Swine, Cattle, Pets, Aquaculture, Other Applications

Asia-Pacific was the largest region in the feed taste enhancers market in 2023. The regions covered in the feed taste enhancers market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa

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Major Driver Impacting Market Growth

Rising demand for animal feed is expected to propel the growth of the feed taste enhancers market. Animal feed refers to the food given to domestic or farm animals and includes a variety of ingredients such as grains, corn, soybeans, hay, and forage. Feed taste enhancers help improve livestock health and make the feed more palatable and appealing to the animal. For instance, in January 2022, according to the annual feed survey published by Alltech, a US-based agriculture product manufacturer, international feed production accounted for 1.235 billion metric tons in 2021, which increased by 2.3% compared to 1.187 billion metric tons in 2020. Therefore, the rising demand for animal feed is significantly contributing to the growth of the feed taste enhancers market.

Key Industry Players

Major companies operating in the feed taste enhancer market are focusing on technology advancements such as flavor enhancement technology. Flavor enhancement technology is the use of compounds added to food to improve or enhance its natural flavor. For instance, in June 2023, T. HASEGAWA, a Japan-based chemical company, launched HASEAROM and ChefAroma, a flavour enhancement technology in North America. HASEAROMA’s distinctive features include patented research and enhancement technology that delivers authentic sweet and savory sensations that replicate the ‘first bite’ sensation of discovering a new meal, packed with intricacy and nuances of flavor. ChefAroma is a new technology that claims to produce a rich complex flavor that is authentic to culinary recipes while delivering chef-inspired flavors in less time. HASEAROMA’s proprietary process and technology allow for greater specificity than other compounded flavors.

The feed taste enhancers market report table of contents includes:

1. Executive Summary

2. Feed Taste Enhancers Market Characteristics

3. Feed Taste Enhancers Market Trends And Strategies

4. Feed Taste Enhancers Market – Macro Economic Scenario

 

5. Global Feed Taste Enhancers Market Size and Growth
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31. Global Feed Taste Enhancers Market Competitive Benchmarking

32. Global Feed Taste Enhancers Market Competitive Dashboard

33. Key Mergers And Acquisitions In The Feed Taste Enhancers Market

34. Feed Taste Enhancers Market Future Outlook and Potential Analysis

35. Appendix

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